Business, 28.06.2020 06:01 ddarby

Revenue on account amounted to $5,000. Cash collections of accounts receivable amounted to $3,050. Expenses for the period were $2,600. The company paid dividends of $700. What was the amount of net income for the period

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Answer from: corynanderson16

The answer is $2,400

Explanation:

Solution

Given that:

Revenue on account =$5,000

Cash collections of accounts (receivable) = $3.050

Expenses for the period (time) = $2,600

Paid dividends = $700

Now,

we find the amount of net income for the period which is given below:

Net Income for the period = Net revenue - expense

$5000 -$2,600

=$2,400

Therefore, the amount of net income for the period is $2,400

Answer from: Quest

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

Answer from: Quest

net worth is the difference between what you own and what you have. if you exceed your liabilities you have a positive net worth. if your liabilities are greater than your assets you have a negative net worth. its a snapshot of your financial situation. if you calculate your net worth you will see the end result of everything you've earned and spent as of now. net worth statements and all you asked of can you determine where you are, how to get where you want to be, if your spending to much. honestly it can tell you a lot of things. i can go on, but you can paint the picture from here.

explanation:

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